Auto stocks continued to rise in the afternoon. As of press release, Xiaopeng Motor-W (09868) rose 5.6% to HK$68.8; Great Wall Motor (02333) rose 4.32% to HK$12.08; and Ideal Car-W (02015) rose 3.25% to HK$162.2.
The Zhitong Finance app learned that auto stocks continued to rise in the afternoon. As of press release, Xiaopeng Motor-W (09868) rose 5.6% to HK$68.8; Great Wall Motor (02333) rose 4.32% to HK$12.08; Ideal Car-W (02015) rose 3.25% to HK$162.2; and Wei-SW (09866) rose 2.24% to HK$59.4.
According to the news, according to a statistical analysis by the China Association of Automobile Manufacturers, the data shows that in October 2023, passenger car production and sales will reach 2,513 million units and 2,488 million units respectively, up 0.7% and 0.02% from the previous year, respectively, and up 7.6% and 11.4% from the previous year. Passenger car production and sales continued to maintain a good momentum along with the recovery in consumption. After the market ushered in the “Golden Nine” season, the popularity of “Silver Ten” continued.
In addition, Everbright Securities pointed out that the industry's trend of using new energy as incremental is clear. The new models at this round of the Guangzhou Auto Show will be launched during the 4Q23 and 1Q24 periods, and will achieve steady delivery at 1H24E. It is optimistic that 2024E will continue to rise in new energy driven by new models.